Immunoassay Market Insights: In-Depth Look at Growth Trends, Market Size, and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theImmunoassay Market?
The escalating incidences of infectious and chronic diseases are anticipated to drive the immunoassay market’s growth in the forthcoming future. Chronic diseases are typically those that persist for more than a year, requiring continuous medical attention, limiting daily activities, or both. Infectious diseases are conditions precipitated by organisms like bacteria, viruses, fungi, or parasites. A plethora of creatures are hosted on the human body. Several infectious diseases can be passed between individuals. Immunoassay is utilized to identify numerous infectious and chronic ailments. For example, a study by the National Institutes of Health (NIH), a US-based biomedical research organization, in 2023, stated that in the United States, the population aged 50 and above with at least one chronic disease is expected to surge by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Also, the population suffering from multimorbidity would climb by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the expanding prevalence of infectious and chronic diseases is propelling the market.
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What is the Predicted Annual Growth Rate of theImmunoassay Market Impact Industry Trends by 2034?
In the past few years, the size of the immunoassay market has seen a robust growth. The market, which is projected to be valued at $35.81 billion in 2024, is expected to expand to $37.63 billion in 2025, representing a compound annual growth rate (CAGR) of 5.1%. Factors such as the prevalence of diseases, an older population, outbreaks of infectious diseases, the rise of point-of-care testing, and an uptick in research funding have contributed notably to growth during the historic period.
The dimension of the immunoassay market is projected to undergo significant expansion in the upcoming years. The projections estimate the market will reach a worth of $50.12 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.4%. This anticipated growth within the forecast period can be credited to factors such as personalized medicine, development in emerging markets, the readiness for pandemics, cancer diagnostic methods, and a transition towards testing at home. Key trends within the forecast timeframe include efforts towards regulatory harmony, the utilization of multipurpose immunoassays, tailored assay services, conjunction with wearable technology and the downsizing of assays.
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Which Upcoming Market Trends and Innovations Are Set to Influence theImmunoassay Market’s Path Forward?
The immunoassay market is currently witnessing a trend where innovative product development is the main strategic move by leading companies in the industry. The focus for these companies is to consolidate their market position through the introduction of new products. A case in point is the November 2022 launch of MAGICL 6000 by Getein Biotech Inc., a Chinese biotech company specializing in the manufacture, sale, service, as well as the research and development of in vitro diagnostic reagents and tools. The MAGICL 6000 is an advanced, portable chemiluminescence immunoassay analyzer, ideally suitable for laboratories needing a one-step chemiluminescence solution for their moderate to high volume workloads. The device, despite its small size, is highly efficient, entirely automated, and boasts the fastest test frequency compared to any other device in its category.
Who Are the Dominant Market Players Pushing the Boundaries of theImmunoassay Market?
Major companies operating in the immunoassay market include Siemens Healthineers GmbH, bioMérieux, Abbott, Beckman Coulter Inc., Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc, WAK-Chemie Medical GmbH, J Mitra & Co Pvt Ltd, Kamiya Biomedical Company, Tosoh Corporation, Gyros Protein Technologies AB, BioCheck Inc., Bio-Techn, DiaSorin S.p.A, Meso Scale Diagnostics LLC, QIAGE, Randox Laboratories Ltd., Shenzhen Mindray Bio-Medical Electronics Co Ltd, Danaher Corporation, Hologic Inc., Tecan Trading AG, Eurofins Scientific, Abcam plc, Enzo Biochem Inc., Luminex Corporation, Quanterix Corporation, Roche Diagnostics, ZEUS Scientific Inc.
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What Are the Core Segments of the Immunoassay Market, and How Do They Contribute to Growth?
The immunoassay market covered in this report is segmented –
1) By Product: Reagents And Kits, Analyzers Or Instruments, Software And Services
2) By Specimen: Blood, Saliva, Urine, Other Specimens
3) By Application: Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Other Applications
4) By End User: Research And Academic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies And CROs, Blood Banks, Hospitals And Clinics, Clinical Laboratories
Subsegments:
1) By Reagents And Kits: ELISA Kits, Rapid Test Kits, Control Reagents, Assay Development Reagents
2) By Analyzers Or Instruments: Automated Analyzers, Point-Of-Care Testing Devices, Microplate Readers, Luminometers
3) By Software And Services: Data Management Software, Analytical Software, Support And Maintenance Services, Consulting Services
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https://www.thebusinessresearchcompany.com/customise?id=9838&type=smpGlobal Immunoassay Market, Global Immunoassay Market Report, Global Immunoassay Market Trends, Global Immunoassay Market Size
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